MU Q2 2026 earnings call

What happened: Micron Technology (MU) reported Q2 2026 earnings, surpassing expectations, yet shares initially slumped 18% in March due to potential compression technology reducing memory requirements for large language models. Analyst sentiment has been mixed, with UBS hiking its price target while Erste Group downgraded MU. Citigroup cut its price target citing temporary DRAM spot weakness. President Trump endorsed MU as one of the "hottest" stocks.

Market impact: The semiconductor sector, particularly memory and storage chip manufacturers, is affected. Valuation repricing and demand concerns have pushed MU's stock price down despite strong earnings. The broader market's sector weakness and impulsive selling have also contributed to MU's volatility.

What to watch next: MU's Q3 2026 earnings release, scheduled for late June, will provide insight into the sustainability of its growth. Additionally, developments in compression technology and its impact on memory requirements for AI models will be crucial to monitor. Lastly, further analyst sentiment shifts may influence MU's stock price.